Why Penumbra Stock Zoomed 4% Higher Today
News about one of 's (NYSE: PEN) development programs and an analyst's price target raise combined to boost the medical device company's stock on Monday. Its price rose by over 4%, giving the stock a clear victory over the S 500 index, which increased by 0.8%.
Penumbra announced that it has completed patient enrollment for a clinical trial to evaluate its Penumbra System with Thunderbolt Aspiration Tubing, a computer-assisted vacuum thrombectomy (CAVT) device. A thrombectomy is the medical removal of blood clots in the brain, a major risk factor for stroke.
The medical device specialist quoted its CEO, Adam Elsesser, as saying, "This critical milestone brings us another step closer to providing physicians with the latest technology for stroke management."
Source Fool.com
